Location: Hardin County, TN | Metro: Hardin County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 38365 reveal a market in motion, characterized by strong rental demand. With a Fair Market Rent (FMR) of $930 for fiscal year 2026, it's evident that the rental sector is a significant player in this area. The fact that the market rent is not available suggests that the FMR closely aligns with what tenants are willing to pay, indicating a robust rental environment.
The absence of specific figures for price-cut share and days on market (DOM) implies that there isn't a surplus of properties waiting to be rented or sold, which would typically lead to longer DOM and higher instances of price reductions. This absence points towards a market where demand meets supply efficiently, without creating an excess of unsold or unrented units.
A standout feature is the 100.0% renter share, meaning every household in the ZIP code is a tenant. This high concentration of renters signifies a sustained long-term housing pressure. It suggests that homeownership might be less prevalent due to various factors such as affordability, lifestyle choices, or the nature of the local economy. High renter shares often correlate with areas that have a transient population, young professionals, or students who prefer renting over buying.
The lack of a median home value further supports the notion that this market is predominantly rental-based. Landlords and small-portfolio investors should focus on the rental segment, understanding that the competition for rental properties is likely fierce. This competition drives the rental market, ensuring steady occupancy rates but also requiring landlords to maintain their properties to remain attractive to tenants.
In summary, ZIP 38365 presents a market where demand for rentals is high and well-matched with the supply, as evidenced by the alignment between FMR and the implied market rent. The complete reliance on rental housing indicates a continuous pressure on the rental market, making it a viable and potentially lucrative segment for investors. However, the need for quality maintenance and competitive pricing is paramount to ensure consistent tenancy and returns on investment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.